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Northwest Voices

Seattle Times letters to the editor

December 7, 2008 at 3:19 PM

United States’ economic mess

Make it a priority

News reports say that the U.S. Treasury is working on a plan to offer a 4.5-percent mortgage rate on many Freddie Mac- and Fannie Mae-backed home loans in a bid to head off foreclosures.

How are they going to avoid rewarding people who never should have even be applying for those loans in the first place? Like people who have evidence of poor personal financial management and an abundance of “toys” they couldn’t really afford.

For those people to get such a break, make them first pass a rigidly structured and graded managerial and budgeting test. Included must be full disclosure of assets in excess of $500.

This same test should also be made available to schools, where all too often economics is just a “left over” subject included in something called social studies.

— James Shenfield, Bainbridge Island

Comments | More in Economy, Federal bailouts

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